Federal authorities say a 29-year-old Florida man decided it would be a good idea to use nearly four-million dollars in Paycheck Protection Program loan money intended for his company at luxury retail shops and resorts in Miami instead of covering company payroll. Prosecutors also say he topped off the illicit spending by buying a 2020 Lamborghini Huracan sports car for approximately $318,000.
Miami resident David Hines of Miami is officially charged with one count of bank fraud, one count of making false statements to a financial institution and one count of engaging in transactions in unlawful proceeds.
Hines reportedly was recently fined $100 for violating the City of Miami's COVID-19 mask ordinance. WSVN reports that he was upset that some of the PPP loan money allocated by Congress to help struggling businesses during the pandemic found its way into the bank accounts of larger corporations.